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Ram Charan is a highly sought after business advisor and speaker, famous among senior executives for his uncanny ability to solve their toughest business problems. For more than thirty-five years, Dr. Charan has worked behind the scenes with top executives at some of the world's most successful companies, including GE, Verizon, Novartis, Dupont, Thomson Corporation, Honeywell, KLM, Bank of America, and MeadWestvaco. He has shared his insights with many others through teaching and writing.

SUMMARY:
Chad Holliday, the CEO of DuPont, and a business-man with a large experience, decided to take measures to end with the current economic crisis. He decided to make this analysis when he traveled to Japan and saw how disastrous the situation was. In this sample, there are some steps to be taken into account when dealing with this recession period.

He brought together his top-managers to analyze in a detailed the main reason of the situation and then be able to develop the right way of acting. The first thing to do is to make all your employees be aware of the firm’s situation, they have to perfectly understand that serious measures should be taken to reduce costs. They decided that the best idea was to set continous reunions with the company’s staff so that everybody perfectly understood what was going on and participate in the srting out of the problem.

In less than six weeks, the company reduced very noticeably the amount of outside contractors. The firm still needs to keep fighting, but the first step has already been taken